Raymond James Financial Services Advisors Inc. Sells 6,021 Shares of Centene Co. (NYSE:CNC)

Raymond James Financial Services Advisors Inc. cut its holdings in Centene Co. (NYSE:CNC – Get Rating) by 17.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,540 shares of the company’s stock after selling 6,021 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Centene were worth $2,259,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Nordea Investment Management AB raised its stake in shares of Centene by 1,837.3% during the fourth quarter. Nordea Investment Management AB now owns 3,056,561 shares of the company’s stock valued at $249,935,000 after acquiring an additional 2,898,790 shares during the last quarter. Fred Alger Management LLC raised its position in Centene by 864.1% in the third quarter. Fred Alger Management LLC now owns 2,017,665 shares of the company’s stock worth $156,995,000 after acquiring an additional 1,808,394 shares during the period. Renaissance Technologies LLC bought a new position in Centene in the third quarter worth approximately $118,792,000. Prudential Financial Inc. raised its position in shares of Centene by 132.7% during the 1st quarter. Prudential Financial Inc. now owns 1,552,890 shares of the company’s stock valued at $130,738,000 after purchasing an additional 885,683 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Centene by 2.8% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 31,270,675 shares of the company’s stock valued at $2,433,266,000 after purchasing an additional 855,690 shares during the period. 93.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Morgan Stanley cut their target price on shares of Centene from $103.00 to $94.00 and set an “overweight” rating for the company in a research note on Thursday, March 9th. JPMorgan Chase & Co. lowered shares of Centene from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $94.00 to $90.00 in a report on Thursday, February 23rd. Credit Suisse Group cut their price objective on shares of Centene from $94.00 to $87.00 in a research report on Wednesday, April 26th. Mizuho cut their price objective on shares of Centene from $92.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 28th. Finally, Stephens cut their price target on shares of Centene from $95.00 to $87.00 in a research note on Wednesday, April 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.00.

Centene Stock Performance

CNC opened at $65.03 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.72. The company has a market cap of $35.69 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 0.88 and a beta of 0.56. Centene Co. has a 52-week low of $61.71 and a 52-week high of $98.53. The firm’s fifty day simple moving average is $66.20 and its two-hundred day simple moving average is $73.57.

Centene (NYSE:CNC – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The company reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.12). Centene had a return on equity of 13.61% and a net margin of 1.01%. The firm had revenue of $38.89 billion for the quarter, compared to analyst estimates of $36.09 billion. During the same quarter in the previous year, the business posted $1.83 earnings per share. Centene’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities analysts anticipate that Centene Co. will post 6.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Centene

In related news, Director Lori Jean Robinson sold 1,400 shares of Centene stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $66.59, for a total value of $93,226.00. Following the completion of the transaction, the director now owns 8,508 shares in the company, valued at $566,547.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sarah London acquired 30,000 shares of Centene stock in a transaction dated Friday, March 17th. The stock was acquired at an average price of $62.60 per share, for a total transaction of $1,878,000.00. Following the transaction, the chief executive officer now owns 313,953 shares of the company’s stock, valued at $19,653,457.80. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lori Jean Robinson sold 1,400 shares of the business’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $66.59, for a total transaction of $93,226.00. Following the sale, the director now owns 8,508 shares of the company’s stock, valued at approximately $566,547.72. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.

Centene Company Profile

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Centene Corp. operates as a healthcare enterprise, which engages in the provision of programs and services to government sponsored healthcare programs. It operates through the following segments: Medicaid, Medicare, Commercial, and Other. The company was founded in 1984 and is headquartered in St. Louis, MO.